The Jobs number came in last Friday and it STUNK! Only 120,000 jobs where added in March – the expected number was 200k. Does this now mean QE is back on the table?
All three American Indices where down on the day roughly 1% each but off their lows.
The India Jewelers strike ended after three weeks, helping gold rally today. A large portion of the world’s gold is purchased by Indian Jewelers.
North Korea is launching a” satellite” which many think is cover for testing a long range ballistic missile. Preparation also seems to be under way for the North Korean’s to do their third underground nuclear test. The news sent Taiwan and South Korean stocks down.
Facebook buys Instragram for $1 billion in cash and stock. Instragram just received a new round of funding which looks to have forced FB’s hand and pull the trigger on the purchase.
AOL sells $1 billion in patents to Microsoft – AOL shares soar 43%. If you own AOL best to flip the AOL profit into another tech company like Microsoft.
Earnings coming up this week: Alcoa, Google, JPMorgan
Oil dipped $0.85 to $102.46 a barrel
Gold bounced up $14 to $1,642.50 an Troy Ounce.
10-year rose pushing the yield back down to near 2% at 2.03% showing tepid confidence in the US recovery.